ACT TO BE HIT BY LABOR’S BIG HOUSING SLEDGEHAMMER – 7 May 2019

May 7, 2019

Adding to the growing list of warnings of the negative impacts of Labor’s Big Housing Sledgehammer, Master Builders ACT yesterday raised concerns Labor’s Housing Tax would result in a hit to the housing industry n the ACT.

Data commissioned by Master Builders ACT found the impact of Labor’s sledgehammer to the housing industry in the Territory would result in:

680 fewerfull time jobs will be created

900 new homes will not be built

A $250 million whack to the local economy

This data builds on previous analysis showing renters in the ACT will bear the cost of this policy, and the value of the family home will go down.

Modelling from SQM Research has shown rents in Canberra will go up by up to $56 a week with the abolition of negative gearing as we know it.

The same modelling found the value of the family home would drop up to $65,000 across the ACT.

Labor’s blatant attempts to hide the widespread impacts of their reckless Housing Tax are less and less credible as time goes on.

These policies hurt Canberrans who are trying to save for a house, plan to use their home to fund their retirement, or work in the construction sector.